Landlords hit by recent and forthcoming tax changes may wonder if it is better to buy a rental property through a limited company, rather than holding it personally. Holding it personally Where a property is held by an individual, the property income tax rules apply. The profits of the property rental business are charged to…
For tax purposes, good record keeping is essential. Without complete and accurate records, it will not be possible to provide correct details of taxable income or to benefit from allowable deductions. Aside from the risk of paying more tax than is necessary, landlords who fail to take their record keeping obligations seriously may also find…
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Did you know?
You have until 31st January 2021 to file your 2019/20 tax return if filed online. Paper returns are due by 31st October 2020. The tax year runs from 6th April - 5th April.
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